(The Group’s Comment) Investment Holding Group Net Profits Rises by 9.3% to QAR 34.53 Million in the 3^rd Quarter 2019

Ø  Profits: The Company recorded profits of QAR 34.53 million for the first 9 months 2019 versus QAR 31.58 million for the same period last year, an increase of 9.34%. Earnings per share amounted to QAR 0.042 versus QAR 0.038 for the same period last year while the 3^rd quarter’s profits amounted QAR 6.60 million compared to QAR 8.30 million for the same quarter 2018.

Ø  Other revenues: The 2018 financials included non-operating profits resulted from the evaluation of financial assets by QAR 28.8 million. Such profits are not reflected in the period’s financial statements. The period’s financial statement however, included non-operating profits against real estate investments by nearly QAR 2.0 million. Other revenues has stabilized at QAR 14.5 million.

Ø  Administrative and general expenses: reduced by QAR 33.4 million (40%) and stood at QAR 44.5 million attributed to the reduction in the provisions by QAR 27.5 million as the company has earlier provisioned against the stagnant goods and other provisions at that figure. The absence of such provision during this period had its great impact in the improvement of the Company’s profits and compensating the non-reoccurred profits in the last period.

Ø  Comprehensive Income: The Company recorded assessment profits of 2019 by QAR 14.6 million considering that the equivalent period last year did not include any similar assessment operations.